Criticism of Economic Rationalism
The term "economic rationalism" is commonly used in criticism of free-market economic policies as amoral or asocial. In this context economic rationalism may be summarised as "the view that commercial activity ... represents a sphere of activity in which moral considerations, beyond the rule of business probity dictated by enlightened self-interest, have no role to play." (Quiggin 1997)
The well-known statement of Margaret Thatcher that "There is no such thing as society. There are individuals, and there are families" is often quoted in this context, though the interpretation of this statement is disputed.
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